StockNews.com Downgrades FOX (NASDAQ:FOXA) to Hold

FOX (NASDAQ:FOXA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research analysts have also recently commented on the company. Loop Capital boosted their price objective on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Trading Up 4.3 %

Shares of NASDAQ:FOXA traded up $2.01 during trading on Tuesday, reaching $49.07. 6,273,535 shares of the stock were exchanged, compared to its average volume of 3,114,021. The firm’s 50-day moving average price is $44.68 and its 200 day moving average price is $40.33. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. FOX has a 12-month low of $28.28 and a 12-month high of $49.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last 90 days. 21.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Entropy Technologies LP purchased a new position in FOX in the 3rd quarter worth about $546,000. Invst LLC acquired a new position in shares of FOX in the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FOX in the third quarter worth approximately $2,867,000. Edgestream Partners L.P. raised its holdings in shares of FOX by 343.1% during the second quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after acquiring an additional 157,927 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of FOX by 9.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock valued at $24,492,000 after acquiring an additional 62,920 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.